Forex licences suspended

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The Securities and Futures Commission suspended the licences of a foreign exchange trader and a dealer yesterday. The SFC announced a three-year suspension of Tse Hon-pan's leveraged foreign exchange trader's representative licence. It said Mr Tse was guilty of misconduct and 'his fitness and properness had been seriously called into question'. The SFC also suspended the dealer's representative registration of Ng Kwun-wing for nine months. Mr Ng was found to have engaged in conduct prejudicial to his client's interests, a breach of the SFC's code of conduct.